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(MoneyNewsWire.Net, April 18, 2018 ) Pen needles, as compared to traditional syringes and vials, offer a convenient, easier and more accurate dosage. Such needles don't need to be pushed through the rubber vial stopper and so tend to retain their sharpness and lubrication. Insulin syringes, over 0.5 billion, are utilized in the Europe region each year. Such needles, on account of accidental strokes, possess a high risk of secondary infections, which may be reduced by the utilization of pen needles. Thus, this market possesses a profit potential.
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Europe pen needles market is anticipated to approach USD 0.87 billion by 2021 from USD 0.54 billion in 2016, growing at a CAGR of 10.00%. Advancement in technology, raising awareness among the public attributable to the various healthcare conferences and seminars, and government support in some countries drive the market growth.
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Many things like the favorable compensation atmosphere and government support in some countries; benefits of insulin pens over syringes and vials; technological advancements to reduce pain and needle anxiety; growing diabetic population; and conferences, meetings, and congresses to increase pen needle awareness are expected to drive the expansion of the pen needles market throughout the forecast period.
Insulin pens are the foremost convenient and quickest mode of injecting drug delivery. Pen needles are extremely demanded in conjunction with growing need for insulin pens for individuals suffering from diabetes. These devices used with insulin pens facilitate in delivering the dosage of the drug to the patient. Large technological advancements also are driving the expansion of pen needles industry. Such devices are a lot convenient to use than traditional syringes and vials, therefore most popular by a lot of individuals. Moreover, the prevalence of some diseases like HIV and hepatitis is further expected to rev up sales of the insulin pen needles.
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Europe market is analyzed based on the region under the U.K., Spain, Germany, Italy and other countries. Features resembling replaceable needles and pre-filled pens have further continued to impact the world market growth of insulin pen needles throughout the forecast period.
The leading market players in the Europe market are Artsana S.p.a. (Italy), HTL-STREFA S.A. (Poland), Inc. (U.S.), Owen Mumford, Ltd. (U.K.), UltiMed, Inc. (U.S.), Allison Medical and B. Braun Melsungen (Germany).
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